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Question about financing


mrchips

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If I can get my coach sold I will be looking for a fiver and an HDT.. In doing my thinking I got to wondering about financing for the truck. I have read a couple things that said financing might be an issue. Can anyone shed any light on that?

 

Next, if it is registered as an RV, are you still locked into 60 months or so for financing, or could you take it out further? Typically I finance for as long as I can, and then try and pay things off as fast as I can. But that allows leeway for much lower monthly costs.

 

We were looking at getting out of our coach and it's big expense (no I don't own it, I drive it for the bank) and going to a much cheaper, in price, fiver and an HDT to help lower our overall monthly expenses. The fiver I am not worried about, Just don't know anything about financing an HDT.

 

Any assistance out there?

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In my research, financing these trucks did not really seem viable... here are a couple of my random thoughts...

 

1. Many times we are buying older trucks (model year 2009ish). Getting used vehicle financing on older vehicles is harder than late model vehicles.

 

2. You might be able to walk into a Volvo dealer and talk to them about financing a new $150k rig. New rigs were WAY out of our budget so we didn't even look into this. I have no idea if they can line up financing for an amateur driver.

 

3. I did actually get a 10k bridge loan for my truck. In my case,the truck came up on the market unexpectedly and I couldn't move my own money around fast enough so I borrowed about 10k in order to bridge the gap. This was just a personal loan so the bank didn't even know anything about the truck.

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